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Powder Metallurgy Components Market
Powder Metallurgy is a technology which is used in the production of mechanical parts with the help of metal and other powders. Majority of manufacturing of the industrial parts are done with the help of powder metallurgy manufacturing methods. The process is experiencing high demand from the automotive sector and electrical machinery industry due to its functional flexibility and cost effectiveness. The global powder metallurgy components market was valued at USD 21.3 Billion in 2019 and is estimated to reach USD 38.9 Billion at a growth rate of 7.9% during the forecast period.
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Key Companies of the Powder Metallurgy Components Market are:
Fine Sinter, PMG Holding, GKN Hoeganaes, Schunk Group, Porite Group, Hitachi Chemical, AMES, Metaldyne Performance, SMC Powder Metallurgy, Stackpole International, and Sumitomo Electric among others
The powder metallurgy components market growth can be attributed to the involvement of manufacturers in the development and research activities. Also, other strategies of the industry players, such as contracts, acquisitions and mergers, and collaboration, are contributing to the market expansion. In 2019, the automotive application segment had the largest market share and is forecast to exhibit a notable growth of 7.89% during 2o17-2027. The increasing product demand due to its lubricating properties and good control over the porosity will boost market share.
The Asia Pacific region constituted the highest market share in 2019 and is forecast to showcase the highest CAGR of 8.62% during the forecast period. China is a quick growing economy and has a central place in the market. North America and Europe are estimated to show a notable growth as well in the upcoming years.
Product Type (Revenue, USD Million; Volume in Tons, 2017–2027)
- Ferrous Metals
- Non-Ferrous Metals
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Preparation Process (Revenue, USD Million; Volume in Tons, 2017–2027)
- Mechanical Pulverisation
- Electrolytic Process
- Chemical Reduction
Fabrication Method (Revenue, USD Million; Volume in Tons, 2017–2027)
Application (Revenue, USD Million; Volume in Tons, 2017–2027)
- Engine Parts
- Aerospace & Defense
- Electrical & Electronics
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